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Essay on Business Society Relationship
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Added on 2020-06-04
Essay on Business Society Relationship
Added on 2020-06-04
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Business and Society
Topic - “Business society relationship”Business-society has brought various changes at social, environmental and economicallevel. The term business refers to the process of providing goods, services and products to makeprofit. In order to reduces negative impact on society and nature, this relationship is varyimportant (Barin Cruz and et. al., 2016). With the help of this activity, organisations are able tomeet challenges. Through this way negative aspects of the process can be effectively reflected.Along with the beneficial points can be implemented. There are various challenges such asbusiness consequences, ecological and environmental disaster,that can be handled effectively(Berthoin Antal and Sobczak, 2014). To maintain this relationship effectively, managers shouldconsider all the factors effectively. The present essay is focused on business society relationship.In this various factors related to the business society relationship. Such as highlights of trends,changes implemented into business on the basis of priorities and issues (Dahan, Hadani andSchuler, 2013). Along with this stakeholder management and their relevance with the role ofmanager is also covered. Trends highlighting business-society relationship. The highlighted trends of business- society relationships are like they provides an hyperconnect to the global organisations. These factors are effectively implemented with the help ofsocial media, mobile technology and so on (de Graaf and Stoelhorst, 2013). Through this theyare introducing a virtual world, it helps the organisations in order to implement changeseffectively. Along with this various social culture is also helps the companies in order to decideinvolvement. With the help of this they are able to develop faith at local level (Dashwood,2014). The demographic segmentation helps in order to deliver services effectively. Alongwith this they are providing various employment opportunities also. With the help of implementing these modifications they are able to meet the needs ofdiversified audience. Along with this various new mechanisms and strategies can be alsoeffectively applied (de Graaf and Stoelhorst, 2013). However , there are some challenges arealso such as increased number of opportunities are creating negative impact on theenvironments. In order to resolve them, organisation need to develop effective addressingstrategies. Along with this excess implementation of technologies are also creating negativeimpact on the both human as well as nature. Therefore, their must be some alternativeintroduced to overcome this drawbacks (Hahn, 2015).
Changes in business – society relationship over time There are various powerful factor due to which changes are introduced into business.Some of them are like government policies, economical factors, social and ethical expectationsand so on. To implement these factors effectively into the organisation, various strategies arebeing considered by the organisations (Jamali, Lund-Thomsen and Khara, 2017). Societyrelationship has been modification at great extend. While considering business-societyrelationship, various changes are identified. One of the major change that has been analysed asshifted interest of organisations. Now firms are focusing to provide services without effectingenvironment. As needs of customers are changing frequently. Therefore, they are trying toimplementing changes without affecting society. To implement this steps, organisations is considering demographic level (Lux, 2016). Ithelps the company to effectively handle various economic factors such as interest rate, taxation,inflations and foreign trade and so on. Some changes are determined at political aspect bycompany. As administrative bodies changes policies at regular interval time. Whileimplementing changes, they considers type of industry and their production also (Business andthe changing society. 2017). Along with these changes are also considered at regular interval.These all changes had positive impact on the growth of company. With the help of thisrelationship organisations are able to increase their profitability (Peredo and McLean, 2013). These social relationships helping the firm in order to expand their business. These all thepositive changes are considered while introducing business-society relationship. Along with thissome changes of society are also considered. Implementing all these changes into businessrefers to the interactive society relationship system (Peredo and McLean, 2013). With the help ofall these modifications, needs and influencing factors for the customers are separated. With thehelp of that different policies and strategies are being considered by the company. Throughapplying advance technology, speed of the process also get increased. Along with this CSPmodel is also considered. It help to implement changes effectively (Ratcliff and Doshi, 2016). Priorities related to society relationshipAccording to various researches economical factors are considered as priority of businessorganisation. Along with this social and ethical factors are their sub priorities. With the help ofdeciding priorities organisation are able to identify effectiveness of the process. It plays asignificant role in the business-society relationship (Shahzad and Sharfman, 2015). Through this
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